On August 3, 2026, FinCEN assessed a $125,000,000 civil money penalty against UBS Financial Services Inc. (UBSFS) for willful violations of the Bank Secrecy Act. According to FinCEN’s press release, this is the largest penalty ever imposed against a broker-dealer for BSA violations to date.

Aug 3
Aug 3 Agencies Issue Joint Proposal to Amend Community Reinvestment Act Rules

Adam Witmer

Regulatory Update, CRA

On July 31, 2026, the OCC and FDIC issued a joint proposal to amend parts of the Community Reinvestment Act (CRA). The proposed changes are intended to better align the regulations with the statutory mandate, help ensure community development activities benefit their intended communities, reduce burden particularly for community banks, and provide greater clarity on how banks can receive CRA consideration.

Aug 3
Aug 3 FDIC Proposes to Increase Extensions of Credit to Insiders

Adam Witmer

Regulatory Update, Regulation O

On July 31, 2026, the FDIC issued a proposed rule that would adjust certain lending thresholds for executive officers and other insiders of FDIC-supervised institutions. Federal laws currently set strict parameters for lending to these individuals and their related interests at FDIC-supervised institutions.

Jul 28
Jul 28 FinCEN’s Statement of Enforcement Policy to Support Venezuela’s Economic Recovery and Relief

Adam Witmer

BSA, Regulatory Update

On July 27, 2026, FinCEN issued a statement of enforcement policy in support of economic recovery and earthquake relief efforts in Venezuela. The statement was made in consultation with the Internal Revenue Service, Federal Reserve, FDIC, NCUA, and OCC.

Jul 28
Jul 28 OCC Proposes Information Collection for GENIUS Act Stablecoin Licenses

Adam Witmer

Regulatory Update

On July 27, 2026, the OCC proposed a new information collection to comply with the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) requirement for entities seeking to issue payment stablecoins in the United States. Comments must be submitted by September 25, 2026.

Jul 27
Jul 27 FinCEN Alert on Fraud Schemes Targeting Federal Student Aid

Adam Witmer

BSA, Regulatory Update

On July 24, 2026, FinCEN issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government. According to FinCEN, fraud rings use stolen and fraudulent identities and other tactics to unlawfully acquire funds from Federal student aid programs, resulting in losses to Federal student aid programs and real students facing difficulties enrolling in classes.

Jul 22
Jul 22 FinCEN Director Gacki Testifies on National Security

Adam Witmer

BSA, Regulatory Update

On July 21, 2026, FinCEN Director Andrea Gacki testified before the United States House of Representatives Committee on Financial Services. Gacki provided an update on FinCEN’s work to combat fraud schemes and its efforts to modernize the Bank Secrecy Act (BSA) regime to address illicit finance threats.

Jul 20
Jul 20 HUD Withdraws OGC Guidance Documents

Adam Witmer

Regulatory Update

On July 17, 2026, the HUD published a Notice in the Federal Register to withdraw several Office of General Counsel (OGC) has withdrawn the guidance documents. The withdrawal of these non-binding guidance documents is part of the Department’s broader regulatory reform and deregulatory efforts.

Jul 16
Jul 16 Agencies Issue Joint Statement on Handling of Highly Sensitive Information During Examinations

Adam Witmer

Regulatory Update

On July 16, 2026, the FDIC, Federal Reserve, and OCC issued a joint statement detailing enhanced security procedures for reviewing highly sensitive information during bank examinations. These new protocols include reviewing such materials on-site to minimize cybersecurity risks rather than transferring them onto agency systems.

Jul 16
Jul 16 Vought Calls for Enhanced CFPB Oversight

Adam Witmer

Regulatory Update, UDAAP

On July 15, 2026, CFPB Acting Director Russell Vought testified before House lawmakers, recommending that Congress enact legislation to better define "unfair, deceptive, or abusive acts or practices" and fund the bureau through congressional appropriations to ensure greater responsiveness to elected officials. Additionally, he announced that the bureau is nearing the proposal of a new open banking rule.

Aug 4
Aug 4 FinCEN Imposes $125M Penalty on UBS for BSA Violations

Aug 3
Aug 3 Agencies Issue Joint Proposal to Amend Community Reinvestment Act Rules

Aug 3
Aug 3 FDIC Proposes to Increase Extensions of Credit to Insiders

Jul 28
Jul 28 FinCEN’s Statement of Enforcement Policy to Support Venezuela’s Economic Recovery and Relief

Jul 28
Jul 28 OCC Proposes Information Collection for GENIUS Act Stablecoin Licenses

Jul 27
Jul 27 FinCEN Alert on Fraud Schemes Targeting Federal Student Aid

Jul 22
Jul 22 FinCEN Director Gacki Testifies on National Security

Jul 20
Jul 20 HUD Withdraws OGC Guidance Documents

Jul 16
Jul 16 Agencies Issue Joint Statement on Handling of Highly Sensitive Information During Examinations

Jul 16
Jul 16 Vought Calls for Enhanced CFPB Oversight

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